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Prospect News home > News index > List of issuers B > Headlines for Berlian Laju Tanker Tbk. > News item
Published on 3/15/2012 in the Prospect News Convertibles Daily, Prospect News Distressed Debt Daily, Prospect News Emerging Markets Daily and Prospect News High Yield Daily.

Fitch cuts Berlian Laju Tanker

Fitch Ratings said it downgraded Berlian Laju Tanker Tbk.'s long-term foreign- and local-currency issuer default ratings to RD (restricted default) from C.

The rating on the company's $400 million senior unsecured notes due 2014, issued by BLT Finance BV and guaranteed by Berlian Laju Tanker, was affirmed at C with a recovery rating of RR5.

The downgrade comes after the company failed to cure its default on the debt instruments, Fitch said.


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